T. Rowe Price executive R. Todd Ruppert, who oversaw the firm's relationships with clients and partners abroad, is retiring after 27 years with the Baltimore money manager, the company announced Wednesday.
Ruppert, who will leave the firm on June 30, plans to focus his time on philanthropic activities and other personal interests.
Ruppert's responsibilities as head of Price's global investment services will be assumed on an interim basis by executives Keith W. Lewis and Flemming Madsen. The company will conduct a global search for Ruppert's successor.
Price said its international business grew under Ruppert's leadership. The company has offices in 13 countries and clients in 35 countries. At the end of last year, 11 percent of the firm's total assets under management of nearly $490 billion came from clients abroad.